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Market of duty-free products in China has become a new attraction to international companies in the field, while China's homemade products have seen a rapid growth since the 1990s, which have taken up 20 percent of the country's duty-free market by this year.
At China Duty-free Business Conference, opening on December 24th in Bo'ao in south China's Hainan Province, many world famous enterprises and companies showed great interest in China's duty-free products market.
From 1995 till now, the average increasing rate of China's duty-free products market exceeds 8 percent, much higher than the world's average figure of 3 percent. In 2002, the sales of duty-free products in China is expected to reach US$300 million, said sources with the conference. China will become one of the top 20 countries with the highest sales of duty-free products in the world.
China set up the first duty-free shop in 1979. Up to now there are over 150 duty-free shops in more than 90 trade ports. The first joint venture duty-free shop was established earlier this year in Shanghai Pudong International Airport.
In 1991, six kinds of homemade products were first officially allowed to enter the domestic duty-free market, which was fully occupied by foreign goods before. The six kinds were tobaccos, alcohol, silks, costumes, health care products and craftworks.
Authorized by the State Council in 1996, homemade goods began to be sold in duty-free stores in the exporting ports. Beginning from this year, the government has canceled category limits to homemade duty-free products, including perfume, cosmetics, watches, lighters and food.
These homemade products have enticed foreign tourists by upgraded qualities and favorable prices. Meanwhile, the increasing number of domestic tourists going abroad have also promoted the consumption.
The rapid development of China's tourism was the major driving force to promote the rapid increase of duty-free business in China. For instance, China received 89.01 million overseas tourists in 2001, while the daily expense of those tourists per capita was US$138.76, one-fourth of which is used in purchasing.
The World Tourism Organization predicted that from 2002 to 2020,the number of overseas tourists coming to China would increase by 8 percent every year, which will ensure the development of Chinese duty-free products market.
(china.org.cn December 27, 2002)
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